Here's Why Nu Holdings Stock Is a Buy Before May 13

Great growth stocks rarely go on sale. But that seems to be the case right now with Nu Holdings (NYSE: NU). Most American investors haven't heard of this company, given its Latin American roots. But if you're looking to buy a proven growth stock at a discount, this looks like your chance. There's reason to believe that this buying opportunity won't last long.Nu has an incredible history. The company was founded in 2013 after its founder, a former venture capitalist at Sequoia Capital, identified a huge market opportunity in Latin America. While traveling there on business, he noticed how most countries in the region had consolidated, old school banking industries. Many areas only had a few large incumbents, a competitive dynamic that resulted in low innovation and high fees for simple services. In response, Nu was formed to take these markets by storm. Nu's business strategy was simple: Offer low-cost financial services directly through a smartphone app. This way, the company didn't need to build out a huge network of physical branches. That greatly sped up customer acquisition times while keeping operating costs low, savings that were then passed on to customers. Operating exclusively through a smartphone app also allowed the company to innovate quickly. Its offerings began with a simple debit card. But after more than a decade in operation, Nu now offers insurance, banking, credit card services, and much more. When it launched its crypto trading platform in 2022, Nu racked up 1 million users in its first month of operation. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool